China's Alibaba Group Holding has agreed to buy a 50 percent stake in Guangzhou Evergrande Football Club, Alibaba's chairman Jack Ma and Xu Jiayin, chairman of the Evergrande group, said at a media conference on Thursday.
The companies did not immediately give a figure for the investment, but Chinese state media reported earlier on Thursday it would total 1.2 billion yuan ($192 million).
American Lawyer publisher ALM Media, which was once controlled by Wall Street dealmaker Bruce Wasserstein, is exploring a sale that could fetch more than $500 million, people familiar with the matter said.
K&L Gates has hired corporate partner Frank Voon in Beijing from Allen & Overy, marking the U.S. firm’s seventh partner recruitment in the Asia-Pacific region in the first three months of 2014.
Fenwick & West has bolstered its M&A practice in China after hiring Niping Wu from Kaye Scholer as a corporate partner in the firm’s Shanghai office.